1971 Autumn Fair Ends

China's 1971 Autumn Export Commodities Fair closed in Kwang-chow on November 15. Close to 20.000 people came to the fair and negotiated for transactions in the past month, including foreign friends from nearly 100 countries and regions on the five continents, overseas Chinese and Hongkong and Macao compatriots. There were more than a dozen trade delegations. Following Chairman Mao's consistent teachings, staff members of the fair carried out the socialist foreign trade policy of equality, mutual benefit and supplying each other's needs, and the policy of developing friendly contacts with the people of different countries. They enthusiastically acquainted the guests with China's new look in socialist revolution and socialist construction, and signed a large number of export and import contracts with friends from trade circles of various countries and regions. This further expanded China's friendly trade exchanges with many countries and regions in the world and promoted mutual understanding and friendship between the people of China and the peoples there. The fair showed that the Chinese Renminbi is a currency gaining more and more international prestige. As the financial crisis worsens daily in the capitalist world and the dollar's special privilege as an international reserve currency of the capitalist world totters, businessmen from more and more countries and regions at the fair preferred to conclude transactions with China by quoting prices and settling accounts in Renminbi. A gala reception marking the fair's closing was given on the evening of November 15, with nearly 4,000 guests and hosts attending. Chen Yu, Director of the Fair and Vice-Chairman of the Kwangtung Provincial Revolutionary Committee, spoke at the reception. He said: This fair is the 30th of its kind since China first instituted the 1957 spring fair when friends from over 20 countries and regions participated on invitation. The number now has reached nearly 100 countries and regions with participants increasing more than ten times. The rise in the volume of imports and exports is even greater. Foreign friends on friendly visits to China have developed trade relations with us on the basis of the principle of "equality, mutual benefit and supplying each other's needs." Friendship between the people of China and other countries is enhanced through such friendly exchanges. Chen Yu said in conclusion: Following the daily development of China's foreign relations and the daily expansion of friendly ties between the Chinese people and the people of the world, our friendly trade with them will surely develop further.